Metalgalante S.p.A.
MSC Mediterranean Shipping Company
CAF Data Centre Industry Outlook
Car Mix

twitter Facebook Linkedin acp Contact Us

AfDB approves loan for Morocco’s wind and solar initiatives

The AfDB aid is expected to help Morocco achieve its goal of increasing installed renewable energy capacity to 42 per cent by 2020. (Image source: Accretion Disc/Flickr)

The African Development Bank (AfDB) has approved a loan of US$800mn to spur private investment in Moroccos growing wind and solar markets

A statement from AfDB said that the bank’s financial support was directed at helping Morocco realise its ambitious concentrated solar power (CSP) project and its integrated wind/hydro and rural electrification programme.

The aid is expected to help the country achieve its goal of increasing installed renewable energy capacity to 42 per cent by 2020, added the statement.

Director of the AfDB energy, environment and climate change department, Hela Cheikhrouhou, said, “Morocco has emerged as a leader in developing low carbon, sustainable energy on a large scale, and we are proud to support the country’s drive.”

AfDB approved a loan for €168mn (US$215mn) in May 2012 and a concessionary loan for US$100mn from the Clean Technology Fund (CTF) to finance the first phase of the CSP plant at Ouarzazate which aims to generate 120MW to 160MW in its first phase and 500MW at full capacity.

Again in June 2012, the bank made its largest project approval for 2012 with a loan of €359mn (US$459mn) from its own resources and US$125mn from the CTF for Morocco’s integrated wind/hydro and rural electrification programme which aims to increase national wind power capacity by 1,070MW and expand rural electrification to 79,436 households in 24 of Morocco's most isolated districts.

Cheikhrouhou added, “CTF, which has a significant component that is grant-like, brings the economics and financial viability of projects closer to reality so that implementation is feasible and government subsidies are less needed.

“Green growth is about finding the pathway where you achieve your ambitions in terms of social and economic development not only to be a global agent, but also to leave something behind for future generations that will be able to produce jobs and resist climatic risks and disasters.”

African Review

Most Read

The Bell team in Richards Bay consists of more than 800 machinists, welders, and assemblers. (Image source: Bell)

GFE Power Product’s extensive range covers generators from 10 kVA up to 3,000 kVA. (Image source: GFE Power Products)

The funding is the largest-ever equity raise in the minigrid industry according to Husk. (Image source: Adobe Stock)

The initiative will help African contractors participate in annual infrastructure investments. (Image source: Afreximbank)

ITS has evolved into a sophisticated systems approach, providing numerous opportunities to revolutionise road networks. (Image source: Adobe Stock)

Invest International’s Lara Muller; Ivory Coast Minister of Finance and Economy, Adam Coulibaly; and Ambassador Designate to Ivory Coast, Jeroen Kelderhuis. (Image source: Invest International)

Inside Condra’s Johannesburg factory: an overhead crane positions an electric motor during assembly of hoist and crab. (Image source: Condra)

The Yellow Metal Machine Rental team with some Wacker Neuson equipment. (Image source: Wacker Neuson)

The parties will also promote the mutual exchange of information and expertise in the field of export credit policies and practices. (Image source: TBD Group)

Although displaying resilience, the report warns that African banks remain exposed to physical climate risks due to both sovereign and industry lending. (Image source: Adobe Stock)

WAA and VCMI will seek to establish regulatory frameworks to enable access to high integrity and fair voluntary carbon markets for WAA member countries. (Image source: Adobe Stock)

IVECO is renewing its entire product range, all at once. (Image source: IVECO)

Both the IMF and EIU expect SSA to rank as the world’s second fastest growing economy in 2024. (Image source: Adobe Stock)

The MoU was signed alongside the Africa Health Business Symposium. (Image source: Africa CDC)

There has been a focus on the sugar industry. (Image source: Adobe Stock)

Latest news

Dietmar Siersdorfer speaking at Africa Energy Forum in Barcelona. (Image source: Siemens Energy)

The generator set fitted with a Perkins 1103 is providing vital backup power at the St Patrick School in Uganda. (Image source: Perkins)

5G technology deployment will take place later this year. (Image source: Adobe Stock)

Spiro will draw from its experience in Kenya, Benin, Togo, Rwanda and Nigeria as it launched in Uganda. (Image source: Spiro)

According to IRENA, concrete policy actions and massive mobilisation of finance at full speed is required in order to meet the 2030 target. (Image source: Adobe Stock)

The distributor will hold specialised training and empowerment sessions to enable its channel network to effectively deliver Vertiv’s portfolio, as well as managing inventory to serve the market. (Image source: Vertiv)

The HQ is expected to be completed and handed over by February 2025. (Image source: ECOWAS)

Africa’s share of global manufacturing only sits at around 2% today. (Image source: Adobe Stock)

There are numerous but not insurmountable challenges facing Africa's aviation sector, according to IATA. (Image source: Adobe Stock)

Africa Energy Forum 2024 was held in the Fira de Montjuïc in Barcelona. (Image source: ACP)

The quality design and manufacture of SEW-EURODRIVE South Africa’s panels and enclosures can be suited to any customer requirement wall mounts. (Image source: SEW-EURODRIVE)

African countries will require over US$45bn in the coming eight years to plug the gap in its transmission systems. (Image source: Synergy Consulting)

BII commits US$75mn to second Green Basket Bond with Symbiotics Investments to finance small-scale green projects in Africa, South, and South-East Asia. (Image source:

Transforming Africa's digital economy: Data Centres powering growth, innovation, and sustainability in the digital era. (Image source: Adobe Stock)

The Linnhoff TSD1500 Asphalt Mixing Plant is undertaking crucial work on two rural road projects in Kenya. (Image source: Lintec & Linnhoff)

Genset BuyersGuide
Construction Buyers Guide